The financial market is constantly evolving and Artificial Intelligence (AI) is playing an increasingly significant role.As technologies advance, financial institutions are looking for ways to adapt and innovate to maintain competitiveness. According to a recent global survey by McKinsey, about one third of large and medium-sized companies are already using AI in their routine operations.In addition, 40% of them will increase their investments in this innovation, due to the exponential advances observed in Generative AI, mainly.
AI offers a range of solutions ranging from analyzing large volumes of data to automating complex processes, increasing operational efficiency.With the ability to learn and continuously improve, AI systems are helping to transform the way financial services are delivered and managed.
The application of AI in the financial market is not limited to task automation alone.It is also being used to improve the customer experience, predict market trends, identify fraud and manage risk more effectively. Optimizations draw the attention of investors in the market & Gartner already predicts an increase in AI-based business acquisitions, as well as the use of technology to improve processes, as indicated in mergers and acquisitions trends.
The expert Thiago Oliveira, CEO and founder of Monest io asset recovery company through the collection of debts by artificial intelligence . O. explains that today the technology has been very well accepted by companies and has provided good results in applications. “This has brought to the market a range of possibilities for new business and new product creations. Today, everything companies consider doing, they will think about how to use AI to improve the process and provide a better experience for the user”, he points out.
The industry is becoming more dynamic and responsive to change, enabling companies to adapt quickly to new opportunities and challenges such as: operational efficiency with internal process optimization, assertive decision making, accessibility and convenience for customers, innovation and creation of new products, cybersecurity and cost reduction and fraud risk.
Among the AI trends identified for the financial market are:
- Robotic Process Automation (RPA)
RPA is being widely adopted to automate routine and repetitive tasks such as transaction processing, compliance verification, and account management.This automation not only increases operational efficiency, but also reduces costs and minimizes human errors, allowing employees to focus on more strategic activities.
- Big Data Analytics and Machine Learning
Analyzing large volumes of data using machine learning techniques is helping financial institutions gain deeper insights into customer behaviors, market trends and potential risks.This enables more informed decision making and more accurate investment strategies.Advanced predictive models are being used to predict market movements, identify fraud patterns and personalize product offerings.
- Virtual Assistants and Chatbots
Virtual assistants and AI-based chatbots are becoming an essential part of customer service in the financial industry.They can respond to customer queries in real time, provide personalized assistance and execute simple transactions, improving the customer experience and reducing the workload of human attendants.
- Risk Management and Fraud Detection
AI is being used to enhance risk management and fraud detection systems.Machine learning algorithms can analyze large amounts of data in real time to identify suspicious activity and anomalies that could go unnoticed by traditional methods.
- Algorithmic Trading
Algorithmic trading, or automated trading, uses AI algorithms to execute trades in the financial market based on predefined parameters and real-time data analysis.These algorithms can react to market changes in fractions of a second, taking advantage of trading opportunities that would be impossible for human traders to detect and execute just as quickly.
For companies looking to start AI applications in processes, a strategic, well-planned approach must be taken, starting with identifying processes suitable for automation, selecting secure tools, and developing robust AI models for predictive analytics and fraud detection.
The expert Thiago Oliveira also explains that integrating these technologies with existing systems and continuously monitoring their performance will ensure not only operational efficiency, but also more informed decision making and an improved customer experience through automated and personalized interactions. “It is certain that AI is dictating the future. It is worth knowing which companies will take advantage of this wave of innovation opportunity. Who does not adapt, will certainly be left behind in this technological race”, he concludes.
